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Ally Bank - Ally Card Controls

Gold Stevie Award Winner 2018, Click to Enter The 2019 Stevie Awards for Sales and Customer Service

Company: Ally Bank
Company Description: Ally Bank is a direct bank in the U.S. that offers a straightforward approach to banking with no minimum deposit required to open an account, no monthly maintenance fees and 24/7 live customer service. A subsidiary of Ally Financial Inc., the Bank offers online savings, interest checking, money market accounts, certificates of deposit, home mortgages and IRA Plans and products. Member FDIC.
Nomination Category: Customer Service & Call Center Awards Achievement Categories
Nomination Sub Category: e-Commerce Customer Service Award - Financial Services Industries

Nomination Title: Ally Card Controls

Tell the story about your e-commerce-based customer service initiatives since the beginning of July 2016 (up to 650 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes:

Since the credit card made its debut as an alternative to cash over 50 years ago, more and more Americans are using debit or credit cards as a primary payment method due to the convenience and simplicity of using a card, as well as certain protections for consumers.

Under the Fair Credit Billing Act, the maximum liability for fraudulent credit card transactions is $50 and many credit cards promise zero liability for all fraudulent transactions. While similar protections apply to fraudulent debit card transactions under the Electronic Funds Transfer Act, a stolen debit card impacts your bank account balance as soon as the fraudulent transaction occurs. This can lead to other problems, like overdrafts and bounced checks.

Despite this, global credit card and debit card fraud resulted in losses amounting to $21.84 billion during 2015 according to the Nilson Report in 2016. While some card issuers have evolved these cards to offer security chips, banks are taking extra steps to make debit card usage more secure by putting even more technology in the hands their customers.

The Ally Card Controls app was designed to give customers more control of their Ally Bank debit card so they can define when, where and how their card is used from their Android® or Apple® phones.

By using a secure phone app associated with their bank accounts, customers have the ability to turn their debit card on and off, enable only certain types of transactions, set maximum single transaction amounts and create alerts to be notified when transactions occur. Moreover, the app lets customers take additional control of their Ally Bank debit card, so they can define when, where and how their card is used and view transactions, establish spending limits, manage notifications and more.

While the ability to “lock” a lost or stolen debit or credit card has become more prevalent, the Ally Card Controls app offers broader functionality than most. Features include:

Card on/off setting. Using our Card Controls app, customers can temporarily turn their debit card off by going into Card Controls from Settings in the Ally Mobile app. If they turn the card off, we won't allow purchases or withdrawals until they turn the card back "on". If they find their card later, they can go back into the app to turn the card back on, as long as it hasn't already been deactivated.

Establish spending limits and merchant categories. Customers can allow transactions up to a certain amount to track spending and prevent fraud. Transactions can also be controlled and monitored for specific merchant categories like gas stations, department stores, restaurants, entertainment, travel and supermarkets.

Location-based controls. Using a phone's GPS, the My Location feature can limit transactions to merchants located within a certain range of your phone's location. Customers can also restrict purchases made in a specific region and deny international transactions.

Transaction push notifications. We'll send a notification whenever a customer makes a purchase or their card is declined, and they'll have plenty of custom options to choose from. We also send the notifications in real time, so they'll always know exactly when the activity took place.

Customer Feedback:

“I just want to take a moment to say that I believe the Ally Card Control feature is awesome! This feature is a hidden gem! I recently found out about this cool setting for my debit card and it's just so cool, I can't get over all the features and settings it lets me do.” (7/26/2017)

“I love love love the new card control app! The second a transaction is processed BOOM! There it is to alert me. The added bonus being it's there to remind me to update my records! Another win Ally!” (6/22/2017)

“I just downloaded Card Control. Wow, that is an amazing idea! Very cool, easy to use and navigate. Thank you for the new safety / security feature.” (4/30/2017)